Saturday, September 13, 2014
Constants and variables 20
Bankers are making a fantastically silly argument against Scottish independence.
Meanwhile, a study by Deutsche Bank said a Yes vote for Scottish independence would "go down in history as a political and economic mistake" on a par with Winston Churchill’s decision in 1925 to return the pound to the Gold Standard or the failures by the Federal Reserve in America that triggered the Great Depression in the 1930s. It warned that Scotland risked a similar depression if voters backed the Yes campaign on Thursday...A false statement and a nonexistent analogy, all in one. Magnificently wrong. The '30s depression was not caused by any single action of any single bank or government. It was caused by widespread idiocy. The Western world had devoted too much of its business resources to false value during the '10s and '20s. When the false value collapsed, as it always does, all the businesses that depended on it collapsed. Businesses that hadn't fallen for the fraud continued to run on real value, and formed the foundation for rebuilding the stupid ones. Even if you assume the initial statement is true, it has exactly zero connection to Scottish independence. How in the fuck do you get from gold standard to secession? Let's see if I can be as smart as a banker. "The Hindenburg disaster was caused by the announcer shouting Oh The Humanity. Therefore you should vote No on independence so you won't explode." The tragedy is that Deutsche Bank knew it could count on the servile media to accept and amplify its bizarre nonsense. Secession will undoubtedly cause great stresses and strains in the banking system, but it could free up Scotland from England's current pursuit of false value. If Scotland loses major bankers, it would be able to rely more on oil and industry, which would improve the life of ordinary Scots. In this specific case the problem is not secession itself. The problem is SNP leader Salmond, who is a secessionist AND a Gaian wacko. If his party continues to run Scotland, the necessary and beneficial switch from financialism to industrialism will not happen.
Labels: Constants and Variables, Loughnerian Logic
¶ 7:20 AM
